Hard Money Tampa

About Hard Money Tampa

Hard Money Tampa is a New Port Richey, FL based private money lender offering loans throughout Tampa, Plant City, Brandon, Valrico, St Petersburg, Clearwater, and New Port Richey. They provide lending solutions for many different needs and situations, including rental property loans, fix-and-flip loans, and commercial loans. Their loan parameters are flexible, including loan amounts ranging from $10,000 to $30,000,000 with a maximum LTV of 60%, rates ranging between 7.99% and 12%, and terms up to 30 years. They provide loans on the following property types: multi-family, office buildings, retail spaces, mixed use, and apartments.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans

Property Types Covered: Multi Family, Office, Retail, Mixed Use, Apartment

Areas Served: Tampa, Plant City, Brandon, Valrico, St Petersburg, Clearwater, New Port Richey

Lending Guidelines for Hard Money Tampa

Below are the general loan guidelines published on the Hard Money Tampa website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Hard Money Tampa.

Loan Example 1

Hard Money Tampa issues a fix and flip loan to Barry for a remodeling project in Tampa, FL, on a property that costs $160,000. Because the lender agrees to a 50% loan to value, Barry will have to put 50% down so the total amount of the note will be $80,000. The note is interest-only, paid monthly, and is for 18 months at 12% interest with 1 points to be paid at closing.

Accordingly, the borrower will need to make a $80,000 down payment plus pay a $800 origination fee. he must then pay $800 per month to the lender. At the expiration of the loan, he sells the rehabed property for $224,000. After deducting the $14,400 in total interest payments ($800 multiplied by 18 months), the $800 origination fee, the $80,000 principle on the loan, and the $80,000 he contributed to closing, he will make a gross profit of $48,800 ($224,000 sales price minus $175,200 in costs). This profit would then be reduced by any rehab costs paid by the borrow.

Loan Example 2

Aurora is a real estate investor in Tampa, FL. She locates an older house for a remodeling project and takes out a private money loan from Hard Money Tampa with the following features:

$190,000 sales price
60% loan to value (LTV)
12 month term
9% rate of interest
5% origination fee

Aurora plans to sell the property when the note expires for $256,500. If she accomplishes her goal, the deal numbers will be as follows:

$256,500 sales price
- $114,000 principle on note (60% LTV)
- $76,000 down payment (40% on 60% LTV)
- $5,700 origination fee (5% of the $114,000 principle amount)
- $10,260 total interest paid (12 months x 9% interest)
-----------------------
= $50,540 gross profit (doesn't include taxes or rehab costs)

No Reviews Yet

Hard Money Tampa currently has no reviews. To add a review now, click the link below:

Write a Review for Hard Money Tampa